Toast Shares Tumble Despite Strong Outlook. Should Investors Buy the Stock on the Dip?
Shares of Toast (NYSE: TOST) dipped despite the cloud-based restaurant management software company reporting strong Q2 results and increasing its guidance. The stock is up about 20% year to date after the pullback.
Let's look at the company's most recent quarterly results and future prospects to see if now is a good time to buy the stock on the dip.
In Q2, Toast saw strong momentum both within its core U.S. local restaurant business, as well as new growth areas, such as large-scale chains, food and beverage retailers, and international markets. The company added a record 8,500 net new locations during the quarter, bringing the total to approximately 148,000 locations. That was a 24% increase year over year.
Source Fool.com
